Verition Fund Management LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,000 shares of the construction company’s stock after selling 1,747 shares during the period. Verition Fund Management LLC’s holdings in Martin Marietta Materials were worth $2,210,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Valeo Financial Advisors LLC raised its stake in shares of Martin Marietta Materials by 149.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 523 shares of the construction company’s stock valued at $116,000 after acquiring an additional 313 shares in the last quarter. Highlander Capital Management LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at $124,000. Captrust Financial Advisors acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $151,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $155,000. Finally, First Dallas Securities Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $155,000. Institutional investors and hedge funds own 99.32% of the company’s stock.
Shares of Martin Marietta Materials, Inc. (MLM) opened at $205.45 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $191.09 and a 52 week high of $244.32. The company has a quick ratio of 2.93, a current ratio of 3.79 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $12,983.26, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.97 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, March 2nd. Martin Marietta Materials’s dividend payout ratio is presently 15.63%.
In other Martin Marietta Materials news, Director Sue W. Cole sold 3,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $210.06, for a total value of $630,180.00. Following the sale, the director now directly owns 24,145 shares in the company, valued at $5,071,898.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.45% of the stock is owned by company insiders.
Several brokerages have recently issued reports on MLM. Barclays began coverage on Martin Marietta Materials in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 price objective on the stock. Alembic Global Advisors reiterated a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, February 14th. SunTrust Banks reiterated a “buy” rating and issued a $245.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday, February 13th. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Citigroup increased their price objective on Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Martin Marietta Materials has a consensus rating of “Hold” and a consensus price target of $243.25.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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